Nifty Poised for Rebound as US Markets Hit Record Highs Over Weekend

Indian benchmark indices concluded the week on a subdued note, with the Nifty 50 closing at ₹24,570.65, down 65.35 points or -0.27%, while the BSE Sensex settled at ₹78,499.17, a decline of 455.59 points or -0.58%. The session was characterized by significant selling pressure in the financial sector, particularly among non-bank lenders, following regulatory draft proposals. Conversely, the Nifty IT index showed resilience, gaining 1.42% to close at ₹31,547.70, providing a partial cushion to the broader market decline.

Markets remained closed today, Saturday, August 08, 2026, for a holiday. Investors are now looking toward the next trading session, buoyed by a strong performance in US markets on Friday. The S&P 500 and Nasdaq Composite reached record highs following a weaker-than-expected July jobs report, which has tempered expectations for aggressive interest rate hikes. This positive global backdrop is expected to influence domestic sentiment when trading resumes, potentially offsetting some of the recent domestic volatility.

While global sentiment is supportive, domestic investors must remain cautious regarding rising crude oil prices, which continue to hover above $80 per barrel. Geopolitical tensions near the Strait of Hormuz and the ongoing digestion of RBI's draft lending norms will likely dictate the trajectory of financial stocks. No FII/DII data available (market holiday). Traders should monitor the India VIX, which stood at 12.16, for signs of shifting risk appetite as the market prepares for the next session.